What is Flare crypto and what is FLR used for?

Flare crypto is a layer 1 blockchain that runs Ethereum-style smart contracts and builds data services directly into the network. Its native token is FLR. Flare is best known among XRP holders, who received FLR in an airdrop and can now bring XRP onto Flare as a token called FXRP.

What is Flare network crypto?

Flare's developer docs describe it as an EVM-compatible chain for data-heavy, interoperable apps. Two data protocols are part of the core network rather than add-ons.

The Flare Time Series Oracle (FTSO) supplies price feeds to smart contracts. The Flare Data Connector (FDC) lets apps verify events on other blockchains and data from outside web services. Because these are "enshrined," they share the security of the whole network. For background on why blockchains need this, see our oracle guide.

What is Flare FLR crypto used for?

According to Flare's FLR page, the token has several jobs as of October 2026. It is staked by validators to secure the network with proof of stake. Holders can delegate it to FTSO data providers and earn rewards. It is used to vote in governance, and it pays transaction fees, which are burned to deter spam.

Supply rules have changed through governance. FIP.01 set yearly inflation at 10%, then 7%, then 5%. A later proposal, FIP.16, approved in April 2026, targets 3% annual inflation with a hard cap of 3 billion FLR a year, rolled out in phases.

What was the XRP Flare airdrop?

Flare promised FLR to XRP holders based on a snapshot taken on December 12, 2020. The token distribution event finally took place on January 9, 2023, when about 4.28 billion FLR went out at a 1:1 ratio with XRP held. CoinDesk reported this was about 15% of the total.

The remaining roughly 24.2 billion FLR was paid monthly over 36 months as "FlareDrops" to holders who wrapped their FLR into WFLR. Flare says FlareDrops ended on January 30, 2026. Normal protocol rewards for delegation and staking continue.

What is the XRP Flare token FXRP?

XRP Ledger does not support general smart contracts, so Flare built FAssets, a system that creates tokens on Flare backed by assets held on their home chains. FXRP, launched in September 2025, was the first live FAsset, with each FXRP representing one XRP.

To mint FXRP, a user picks an agent, pays a fee and sends XRP to that agent. The FDC confirms the XRP payment, and FXRP is minted on Flare. Agents must post extra collateral in stablecoins or ETH plus FLR, and holders can redeem FXRP for XRP. If an agent's collateral falls too low or it breaks the rules, it can be liquidated. Flare says FXRP pays no yield on its own; any return depends on using it in DeFi apps, which carries its own risks.